Bonus for parent company staff

February 25, 2002, 08:00 CET

For the first time ever, all permanent employees of Statoil's parent company are to receive a bonus.

Five per cent of the basic salary will be paid as a bonus to all 10,000 employees of Statoil's parent company as part of their salaries in March.

“We have achieved a good result due to the positive market conditions and good efforts made by the group," reports chief executive Olav Fjell. "I think it is appropriate that the employees receive a share in the form of a five per cent bonus, which is the maximum payment.”

The group’s financial result is measured in accordance with internal requirements to the return on capital employed. Fluctuations in the oil price are not taken into account when the bonus is calculated.